India may raise import duties on components used in mobile handsets, most of them imported from China, as one of the measures.

The government on Thursday hiked interest rates on small savings schemes, including National Savings Certificate (NSC) and Public Provident Fund (PPF), by up to 0.4 per cent for the October-December quarter.

Cautioning businesses in China to be ready for a long drawn trade war with US, Alibaba Group founder Jack Ma said the dispute could drag for 20 years, extending far beyond the presidency of Donald Trump.

The first wave of import curbs will include items like luxury cars, high-end mobiles, steel, aluminum, electronic items and furniture. Other items added to the list are dry fruits and imported fruits like almonds, and alcoholic beverages.

This would be first charge sheet in the case pertaining to loans of over Rs 6,000 crore given to Kingfisher by a consortium of 17 banks led by State Bank of India which alone had an exposure of Rs 1,600 crore.

The government is determined to keep fiscal deficit at 3.3 per cent of GDP on the back of buoyant tax revenues and expectations of surpassing the disinvestment target.

The decision comes right ahead of the festive season in India when buyers show interest in consumer durables.

According to The Economic Times, the proposal envisages setting up 14 national employment zones in the coastal states under the special purpose vehicle route, and is expected to be rolled out ahead of general elections next year, when employment generation is sure to emerge as a key issue. The plans are currently being shaped by the shipping ministry in consultation with think-tank  NITI Aayog.

In his letter to the parliamentary committee, the celebrated economist Rajan listed out the key reform areas to prevent recurrence of the kind of bad loan that the system is currently grappling with.

The Supreme Court is currently hearing a case between virtual money exchanges and the RBI, and the next hearing on the matter is scheduled for September 17.

Top officials in the Finance Ministry said that there is \"no scope for a cut in excise duty by the Centre and VAT charged by the states.\"

The Finance Ministry on Monday extended the last date for filing final sales return GSTR-1 for July 2017 to September 2018 period till October 31 and also waived the late fee for the delayed filing of returns.

Capital markets regulator SEBI may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband with regard to a probe into alleged regulatory lapses with regard to his business dealings.

In its anti-dumping investigations, the Directorate General of Trade Remedies has stated that dumped imports of 'straight length bars and rods of alloy steel' from China have increased in absolute terms during 2016-17.

The Centre paid Rs 14,930 crore to compensate states for revenue loss incurred in June and July, a nearly four-fold jump compared to Rs 3,899 crore paid for the months of April and May.

SEBI initiated a public consultation process for finalising the new guidelines after a high-powered panel suggested changes on several contentious proposals and more time for compliance with new KYC and beneficiary ownership norms.

The guidelines set by the Department mandate that companies worth Rs 2,000 crore, and cash and bank balance more than Rs 1,000 crore have to mandatorily buy back shares.

The government may be readying a set of rules to shut down and further check the formation of shell companies.

After several objections were raised by the FPIs, the regular has now formed a working group, which will be headed by former RBI Governor HR Khan. The group will look into issues like KYCrequirement and disclosures regarding beneficial ownership.

A survey found that a fifth of 63 million small businesses faced a 20 per cent fall in profits since the GST rollout, and had to sack hundreds of thousands of workers.